Sovereign Report – Issue 23

Content Summary

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Download a copy of Issue 23

1. European News
   • Brown targets offshore trusts in UK Pre-Budget Report
   • EU Council adopts Third Money-Laundering Directive
   • Isle of Man signs TIEA with The Netherlands
2. USA & Caribbean News
   • US brings more charges in KPMG shelter case
   • Bermuda signs TIEA with Australia
   • Netherlands and Antilles agree zero withholding tax
3. Far East News
   • Dubai brings Trust Law into force
   • South Africa to strengthen anti-avoidance
   • Hong Kong abolishes Estate Duty
4. Legal News
   • Privy Council finds trustee liable of dishonest assistance
   • High Court sets aside trustees decision
   • Jersey Court permits “non beneficiaries” access to trust information
5. Fiscal News
   • Isle of Man considers introducing “tax cap”
   • PRC to unify corporate tax rates in 2006
   • Netherlands and South Africa sign tax treaty
6. Special Report
   • Sovereigns China Entry Services